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DeSoto Resources Limited (ASX:DES)

ALERT: Price-sensitive ASX Announcement for DES
Current share price for DES : $0.120 -0.04 (-25%)+
Announcement
Release
21 Apr 2026 8:15AM
Price at Release
$0.160
Full Release
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Summary
DeSoto Resources Limited reported its quarterly activities and financial cash flow for the period ending 31 March 2026. The company focused its exploration activities in the Siguiri Basin, Guinea, where it expanded its project portfolio by acquiring new exploration grounds, totaling over 1,900 km². Key projects such as Koba saw significant artisanal gold mining activity, with high-grade assay results. The company completed broad soil sampling programs and prepared for upcoming drilling. Financially, DeSoto maintained a cash balance of AUD 11 million, with expenditures focused on exploration and administration. The report also detailed payments to related parties and outlined the status of mining tenements. The company remains well-funded to continue its exploration activities.
Key Points
  • DeSoto Resources Limited released the quarterly report for the period ending 31 March 2026.
  • Exploration activities were concentrated in the Siguiri Basin, Guinea.
  • Acquired 532km² of new ground, increasing total to 1,900 km².
  • High-grade gold assays found at Koba project.
  • Planned upcoming drilling programs following soil sampling.
  • Maintained a cash balance of AUD 11 million at the end of the quarter.
  • Financial focus on exploration and corporate costs.
  • Reported payments to related parties totaling AUD 111,000.
  • No substantive mining production or development activities during the quarter.
  • DeSoto is well-funded to continue exploration activities.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.